Oil Prices Surge After Trump Rejects Iran Peace Offer

Oil prices spiked in early Asian trade on Monday after President Trump unequivocally rejected Iran's response to a U.S.-drafted peace proposal. At the time of writing, Brent crude was up 3.33%, trading at $104.60 per barrel, while West Texas Intermediate had risen to $98.62 per barrel, up 3.35%. The spike followed a social media post from Trump on Sunday evening in which he described Iran's response to the proposal as "totally unacceptable". The President did not disclose details of Iran’s respo...